nominally, we're rounding $16 trillion, and running a $1 trillion (maybe more) deficit every year. i've actually read estimates that the true national debt is closer to $75 trillion if we include future social security liabilities.

even if we run a surplus of $1 trillion/year (sounds impossible if you ask me), that still means it'll take almost a century to pay this debt off.

one possible scenario: like eu bailouts, perhaps our creditors will require a framework soon (i.e. setting our budget/laws). a shrinking defense would be obvious... no more global cop. or, an outright revolution? it happened to the soviets.

As long as the growth rate of deficit is less than the GDP growth rate, we're completely fine. In fact, the debt isn't actually growing in real terms.

If you want to have a real discussion about how large/unsustainable government spending is, you don't want to use periods of economic abnormality, such as the last few years (just as you wouldn't want to go back to the Clinton years, and say that the government was a model of sustainability, because the dot-com bubble led to a massive surge in tax revenue). You have to cyclically adjust the deficit to have a real starting point, and if you do that now, then everything now is basically fine.

The government should tax M3 owners more than 335 and 328. And M6 owners should be taxed more than all the above. They probably make more money. Thing is, hence the above theory, if you own an M6 and you live on crackers and tea and barely make the rent so you can afford the car, you are in trouble. Then they will raise the tax on gas guzzlers and M owners would probably get pissed. IND then will come up with aftermarket gas guzzler but they will fail to meet demand as they can't afford paying the guy in the jumpsuit. That guy will probably have to sue the government to brake the vicious circle and probably IND will end up selling crack to keep the profit from falling into a deep spiral. IND... Sell crack.

The government should tax M3 owners more than 335 and 328. And M6 owners should be taxed more than all the above. They probably make more money. Thing is, hence the above theory, if you own an M6 and you live on crackers and tea and barely make the rent so you can afford the car, you are in trouble. Then they will raise the tax on gas guzzlers and M owners would probably get pissed. IND then will come up with aftermarket gas guzzler but they will fail to meet demand as they can't afford paying the guy in the jumpsuit. That guy will probably have to sue the government to brake the vicious circle and probably IND will end up selling crack to keep the profit from falling into a deep spiral. IND... Sell crack.

The government should tax M3 owners more than 335 and 328. And M6 owners should be taxed more than all the above. They probably make more money. Thing is, hence the above theory, if you own an M6 and you live on crackers and tea and barely make the rent so you can afford the car, you are in trouble. Then they will raise the tax on gas guzzlers and M owners would probably get pissed. IND then will come up with aftermarket gas guzzler but they will fail to meet demand as they can't afford paying the guy in the jumpsuit. That guy will probably have to sue the government to brake the vicious circle and probably IND will end up selling crack to keep the profit from falling into a deep spiral. IND... Sell crack.

nominally, we're rounding $16 trillion, and running a $1 trillion (maybe more) deficit every year. i've actually read estimates that the true national debt is closer to $75 trillion if we include future social security liabilities.

even if we run a surplus of $1 trillion/year (sounds impossible if you ask me), that still means it'll take almost a century to pay this debt off.

one possible scenario: like eu bailouts, perhaps our creditors will require a framework soon (i.e. setting our budget/laws). a shrinking defense would be obvious... no more global cop. or, an outright revolution? it happened to the soviets.

WWIII with your creditor (China). The quickest way to clear your debt.

Quote:

Originally Posted by veloziROTHTOR

nominally, we're rounding $16 trillion, and running a $1 trillion (maybe more) deficit every year. i've actually read estimates that the true national debt is closer to $75 trillion if we include future social security liabilities.

even if we run a surplus of $1 trillion/year (sounds impossible if you ask me), that still means it'll take almost a century to pay this debt off.

one possible scenario: like eu bailouts, perhaps our creditors will require a framework soon (i.e. setting our budget/laws). a shrinking defense would be obvious... no more global cop. or, an outright revolution? it happened to the soviets.